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Treasury Secretary Henry Paulson confirmed today that the White House has requested the remaining $350 Billion in TARP funds on behalf of the Obama administration. Paulson's remarks confirmed earlier one's made by George W. Bush in his final press conference as president. In an interview with...
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With the U.S. government promising a total of $17.4 billion to General Motors and Chrysler, U.S. Treasury Secretary Henry Paulson has officially requested the second half of the $700 billion TARP funds from the U.S. Congress. The move comes despite a wave of unpopularity for the outgoing Treasury Secretary...
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After a gruelling several weeks, the U.S. government announced Friday it will extend short-term funding to General Motors and Chrysler , allotting $13.4 billion in immediate funding to the two automakers and an additional $4.0 billion contingent on the delivery of the second tranche of the TARP. "For...
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Treasury Secretary Henry Paulson said on Monday the Treasury is developing new programs under the Troubled Asset Relief Program (TARP) and that he's confident the Treasury is pursuing the right strategy. "We are actively engaged in developing additional programs to strengthen our financial system...
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The $700 billion Troubled Asset Relief Program (TARP) was designed to stabilize the financial system and improve lending liquidity, and "is not a panacea for all our economic difficulties" said U.S. Treasury Secretary Henry Paulson on Tuesday. "The rescue package was not intended to be...
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U.S. Treasury Secretary Henry Paulson said tensions in financial markets will probably continue for many months, and now that his government has addressed the potential failures of massive corporations, the next step will be to deliver a boost to the U.S. economy. Speaking at a panel discussion in Washington...
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Treasury Secretary Henry Paulson said the original idea behind the $700 billion rescue package is no longer an effective use of the allocated funds . That approach has been abandoned in favour of the Capital Purchase Plan, which is already directing liquidity into financial firms, he announced Wednesday...
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Delivering an update to the Troubled Asset Relief Program (TARP) , U.S. Treasury Secretary Henry Paulson said that purchasing troubled assets - the original intention of the $700 billion rescue package - is not an effective use of the program. "It was clear to me by the time the bill was signed...